51Buy 2013 GMV Up 132% YoY
Oriental Morning Post, 1/15/14
Chinese internet firm Tencent's (0700.HK) e-commerce subsidiary Tencent E-Commerce Holdings has revealed that gross merchandise volume (GMV) on the company's B2C e-commerce site 51Buy reached RMB 15.8 bln in 2013, an increase of 132% YoY. 51Buy GMV was RMB 6.8 bln in 2012, up from RMB 2.3 bln in 2011. Revenue from Tencent's QQ Buy e-commerce platform was RMB 28.1 bln in 2013, an increase of 134% YoY. Tencent's combined share of the Chinese B2C e-commerce market rose from 1.6% in 2012 to 5.4% in 2013, placing it among the top three companies in the sector, according to Tencent.
During an 8-day period surrounding China's November 11 "Singles Day" e-commerce holiday, customers placed orders totaling more than RMB 1.0 bln on 51Buy, the equivalent of an average month of revenue for the site.
In 2013, 51Buy made efforts to expand its customer base to cover more of China. Customers from Eastern China, previously comprising 90% of 51Buy's customer base, now make up approximately 50% of 51Buy customers.
Tencent will give more attention to developing O2O services in 2014, particularly its "Wei Gouwu" ("Micro Shopping") and "Wei Shenghuo" ("Micro Life") services, which are integrated with the company's WeChat (Weixin) mobile messaging app.
Keywords: statistics e-commerce Internet revenue B2C Tencent 0700.HK QQ Buy WeChat 51Buy GMV O2O mobile IM
Sending
